The Resource Curse and Rent-Seeking in Angola
This paper analyses the resource curse and rent-seeking behaviour, aiming to advance the understanding of chronic poverty and underdevelopment in Angola. The paper presents a profile of Angola in terms of its politics, resources, economy and society. We find a paradox in the way that the country is currently being run. On one hand, it is adhering to sound macroeconomic policies, prescribed and drawn up by the IMF, partly intended to confront a “rentier state” characterised by widespread, high-level corrupt practices, such as nepotism. These are fuelled by the vast revenues that flow into Angola from its chief export, oil. At the same time, the majority of Angola?s population live in various degrees of poverty. On the other hand, political power is concentrated in the possession of a neopatrimonialist regime that is unlikely to change the status quo of its own volition in favour of a greater transparency and efforts to achieve a more equitable distribution of wealth and social inclusion. Policy implications are derived.
|Date of creation:||Feb 2012|
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